Tuesday, October 17, 2006

Ken Lay's conviction posthumously vacated

Via U.S.A. Today:
As a matter of law, a conviction against a criminal defendant is not final until the defendant has had the chance to appeal the verdict. Therefore, Lay's death short-circuited the full legal process to which he was entitled.
The real impact is on collection of approximately $40 million that the Justice Department intended to seize in criminal forfeiture proceedings. The Justice Department explained in a statement that it still plans to seek the funds in civil court:
Today's ruling does not change the fact that Mr. Lay was found guilty after a four-month jury trial and a separate bench trial. We will continue to pursue all remedies available for restitution on behalf of the victims of the fraud at Enron.

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